Strategic collaborations create excitement for both brands and their customers, whether it’s fast food and toys, sports teams and cereals, or even cars and fashion brands. All of which are memorable – and perhaps a little unexpected.
And while traditional business partnerships typically prioritize security and predictability, customer data has the power to unlock a world of possibilities to help businesses differentiate and expand into new audiences.
actually, 87% of marketing leaders It seems their company is not using data to its full potential. But those who do are getting huge salaries- 58% of respondents from a study shared That they saw a big increase in customer loyalty and retention. This abundance of data enables businesses to make new assumptions and make connections that were not obvious to them or their peers. And when there’s a trusted partner to help identify and recommend new directions, businesses of all sizes have opportunities to thrive and grow.
JP Morgan Payments, About 10 trillion dollars are moving every day (or worth about $100 million per second) Customer behavior has a unique vantage point. Especially customer insights that go beyond general demographics. Now, businesses can immediately tap into a richer understanding of what fuels customer decisions, including their behavior, preferences and values.
“Our customer insight data can help company leaders, including product and marketing teams, figure out the best strategies for their business,” explains Florencia Ardisone, head of product and analytics at JP Morgan Payments. Ardissone and his team transform customer data into actionable insights that inform strategic decision-making.
For example, customer insights might reveal that 30% of pet store transactions occur on Saturdays, and 40% of those same shoppers visit a home furnishings store¹ later. This suggests that exploring a new line of pet beds could create an unexpected expansion opportunity, potentially leading to increased foot traffic and sales.
Customer insights empower decision makers to take their companies to the next level through strong partnerships, pursue preferred products, and deliver personalized services that resonate with their consumers. This data-driven approach, driven by customer insights, is unlocking a new era of customer engagement and accelerating long-term business success.
- Information is for illustrative purposes only. Based on actual customer data.
Disclaimer: Future capabilities of Customer Insights are under development; Features and timelines are subject to change at the Bank’s sole discretion.
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